Shorting the Oil & Gas ETF seems like a good trade today to hedge the US equity downside risk. Aiming for a move to 40 with SL @ 44.5.
Underlying components are bouncing today, yet remain in respective downtrends:
$COP: Conoco Phillips
$FANG: Diamondback Energy
$OXY: Occidental Petroleum
$COG: Cabot Oil & Gas Corp
$EQT: EQT Corp
$DVN: Devon Energy
Charts sourced from stockcharts.com
Disclosure: I am building a position in this short.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: This is not investment advice, please do your research before committing capital. Stop loss levels mentioned are indicative for the risk I would be willing to commit on these trades with my trading style. Everyone’s different, commit what you can stomach losing.